iShares Bitcoin Trust ETF (NASDAQ:IBIT) Hits New 1-Year Low – Should You Sell?

Shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $34.01 and last traded at $34.11, with a volume of 41171677 shares. The stock had previously closed at $36.02.

iShares Bitcoin Trust ETF Price Performance

The business’s 50-day simple moving average is $42.16 and its 200-day simple moving average is $44.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBIT. Laurore Ltd bought a new position in shares of iShares Bitcoin Trust ETF during the 4th quarter valued at $436,239,000. Mubadala Investment Co PJSC raised its holdings in shares of iShares Bitcoin Trust ETF by 45.6% during the 4th quarter. Mubadala Investment Co PJSC now owns 12,702,323 shares of the company’s stock valued at $630,670,000 after purchasing an additional 3,975,351 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of iShares Bitcoin Trust ETF by 332.4% during the 1st quarter. Walleye Capital LLC now owns 4,317,555 shares of the company’s stock valued at $165,880,000 after purchasing an additional 3,319,115 shares in the last quarter. 59 North Capital Management LP bought a new position in shares of iShares Bitcoin Trust ETF during the 3rd quarter valued at $169,100,000. Finally, Marshall Wace LLP raised its holdings in shares of iShares Bitcoin Trust ETF by 229.8% during the 4th quarter. Marshall Wace LLP now owns 3,447,749 shares of the company’s stock valued at $171,181,000 after purchasing an additional 2,402,259 shares in the last quarter.

About iShares Bitcoin Trust ETF

The IShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Bitcoin. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.